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Progressive Care Inc (OTCMKTS: RXMD) Major Reversal of 52 Week Lows as Pharma Co Becomes an SEC Filer and Looks to Uplist to National Exchange

Progressive Care Inc. (OTCQB: RXMD) is moving northbound again after making a significant reversal off 52-week lows of $0.023, a support level it has held…

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Progressive Care Inc. (OTCQB: RXMD) is moving northbound again after making a significant reversal off 52-week lows of $0.023, a support level it has held in the past. RXMD made a major move back in early 2021 skyrocketing from current levels to highs of $0.195 per share. Now taht RXMD has reversed the trend and is moving northbound again investors are paying attention. Currently trading at a low $16 million market valuation RXMD has $2.4 million in the treasury, is projecting $40 million in 2022 revenues and recently became an SEC filer with the explicit intention of uplisting to a national market. 

RXMD just came off another stellar quarter reporting $9.6 million in revenues for the 3 months ended March 31, 2022. During the quarter RXMD Strengthened management team with industry experts, expanded corporate services with enhanced COVID-19 platform capabilities Approved as COVID-19 test vendor in the U.S. for travel to Beijing Winter Olympic Games, engaged with Alteryx software implementation partner Aimpoint Digital to streamline healthcare data management workflows. Partnered with Podium to boost customer satisfaction, efficiency and brand awareness, gained long-term pharmacy contracts with major payors, announced expansion plans into the rapidly growing multi-billion-dollar Remote Patient Monitoring space and gained SEC reporting status on April 11, 2022 through the filing of Form 10-12G Summary Financials for the Three Months Ended March 31, 2022, as Compared with the Three Months Ended March 31, 2021. 

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Progressive Care Inc. (OTCQB: RXMD), through its subsidiaries, is a Florida health services organization and provider of prescription pharmaceuticals, compounded medications, provider of tele-pharmacy services, the sale of anti-retroviral medications, medication therapy management (MTM), the supply of prescription medications to long-term care facilities, and health practice risk management. The Company boasts 4 physical pharmacy locations (in North Miami Beach, Davie, Palm Springs, and Orlando) with 5-star performance ratings and nearly 125 employees from which to launch further expansion and sales growth. Progressive Care has been featured by mainstream press including in prestigious online magazines such as Forbes, Microcapdaily, and HuffPost. PharmCo Rx is licensed in Colorado, Connecticut, Florida, Georgia, Illinois, Nevada, New Jersey, New York, Pennsylvania, Texas, Utah, Arizona, Massachusetts and Minnesota.  

Progressive Care provides Third Party Administration (“TPA”), data management, COVID-19 related diagnostics and vaccinations, prescription pharmaceuticals, compounded medications, tele-pharmacy services, anti-retroviral medications, medication therapy management, the supply of prescription medications to long term care facilities, medication adherence packaging, contracted pharmacy services for 340B Covered Entities under the 340B Drug Discount Pricing Program, and health practice risk management.  

In 2020 Progressive Care formed ClearMetrX, a wholly-owned data management company with services designed to support health care organizations across the country. Management believes Artificial Intelligence (“AI”) will improve preventive healthcare by helping physicians make informed decisions in the medication therapy management process. The Company has transitioned data service customers from the pharmacies to the ClearMetrX platform to better scale the products and improve the capabilities of existing analytics options. 

For years Microcapdaily has reported on RXMD starting on January 8, 2015 stating: RXMD is a fascinating story taking the bb’s by storm. The stock which has been locked in a battle between $0.001 lows and $0.01 highs has exploded out of its trading range well into penny land. While RXMD still remains quite unknown the stock is quickly gaining the attention of a growing shareholder base who swears this one goes much higher. Everyone knows just how explosive these OTC pharmacy plays can be.” More recently on July 29, 2020 Microcapdaily reported on RXMD: “RXMD is moving steadily higher in recent trading on growing volume as the Company reports record operating results and expands its covid-19 antibody testing operations. Microcapdaily has reported on RXMD incredible rise over the years from Pink Sheets with the yield designation to fully reporting OTCQB with plans to up list to a major exchange. The stock has runner in its blood and a history of big moves, skyrocketing from well under a penny to highs of $0.27 in early 2018. When a penny stock such as RXMD heats up, penny stock speculators pay attention.”  

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In May the Company reported financial and operational results for the three months ended March 31, 2022. Revenue increased by 5%, from $9.6 million in 2021 to $10.1 million in 2022. Gross margin decreased slightly to 24% in 2022 from 25% in 2021. Operating loss decreased by 79%, from $0.6 million in 2021 to $0.1 million in 2022. Adjusted EBITDA increased by 53% from $66,349 in 2021 to $101,646 in 2022 

During the quarter RXMD Strengthened management team with industry experts, Expanded corporate services with enhanced COVID-19 platform capabilities Approved as COVID-19 test vendor in the U.S. for travel to Beijing Winter Olympic Games, Engaged with Alteryx software implementation partner Aimpoint Digital to streamline healthcare data management workflows. Partnered with Podium to boost customer satisfaction, efficiency and brand awareness, Gained long-term pharmacy contracts with major payors, Announced expansion plans into the rapidly growing multi-billion dollar Remote Patient Monitoring space and gained SEC reporting status on April 11, 2022 through the filing of Form 10-12G Summary Financials for the Three Months Ended March 31, 2022, as Compared with the Three Months Ended March 31, 2021 

Alan Jay Weisberg, Chairman and Chief Executive Officer of Progressive Care, commented, ‘The first quarter of 2022 was an exciting period for the Company as we have begun a number of planned initiatives in line with our vision to become a diversified healthcare company. We have begun to realize the benefits of the operating efficiencies implemented and achieved reductions in operating expenses which resulted in significant improvement in our operating results. We also continued our progress towards uplisting to a national exchange market. Financially, we had a solid start to 2022, highlighted by our 5% revenue growth. Our quarterly revenue of $10.1 million demonstrates our team’s efforts in diversifying our products and services. With a further reduction of operating expenses as a percentage of revenue to 25% during the first quarter, the Company’s operating efficiency continues to improve as we scale our business. Our recent expansion into long-term care pharmacy contracts provides Progressive Care with an opportunity to significantly increase its sales that produce much better margins. In addition, we expect that future growth will be driven by new data management and virtual healthcare service lines; expansion of 340B Covered Entities Third Party Administrative services; market penetration in existing geographies; development of enhanced healthcare B2B services; development of cash-based products and services; and continued implementation of MTM protocols.” Weisberg concluded, “We expect that growth in these revenue components will continue, as we have good momentum and we expect 2022 performance to reflect that. We look forward to updating the market and our shareholders with our progress on both our business and capital market initiatives over the next few months.” 

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Currently trading at a $16 million market valuation RXMD has 548,962,587 shares outstanding with AS set at 1 billion and a float of just 463,729,041 shares. Recently becoming an SEC filer with the explicit intention of uplisting to a national market, RXMD has $2.3 million in the treasury and does carry over $10 million in debt on the books. But RXMD is an exciting story developing in small caps; the Company just came off another stellar quarter reporting $9.6 million in revenues for the 3 months ended March 31, 2022.  The Company also recently announced expansion plans into the rapidly growing multi-billion-dollar Remote Patient Monitoring space and is projecting $40 million in revenues in 2022. RXMD traded as high as $0.195 in early 2021 and just came off 52-week lows of $0.023.  We will be updating RXMD as events unfold so make sure you are subscribed to Microcapdaily so you know what is going on with RXMD.

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Disclosure: we hold no position in RXMD either long or short and we have not been compensated for this article.

The post Progressive Care Inc (OTCMKTS: RXMD) Major Reversal of 52 Week Lows as Pharma Co Becomes an SEC Filer and Looks to Uplist to National Exchange first appeared on Micro Cap Daily.

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International

NIH Doctor Flagged Wuhan Virus Lab Safety Problems As Early As 2017

NIH Doctor Flagged Wuhan Virus Lab Safety Problems As Early As 2017

Authored by Tom Ozimek via The Epoch Times,

A doctor working for the…

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NIH Doctor Flagged Wuhan Virus Lab Safety Problems As Early As 2017

Authored by Tom Ozimek via The Epoch Times,

A doctor working for the U.S. government in 2017 visited the China-based virus research facility that may have leaked the pathogen that causes COVID-19, and sounded the alarm on safety issues at the lab earlier than previously reported, according to documents obtained by The Epoch Times.

Dr. Ping Chen, who worked for the National Institute of Allergy and Infectious Diseases (NIAID), visited the Wuhan Institute of Virology (WIV) in October 2017 and prepared a report for her superiors after her visit.

While a version of her report obtained by a Freedom of Information Act (FOIA) request was fully redacted, Sen. Ron Johnson (R-Wis.) and his team were granted an opportunity to carry out an in-camera review of the report that had some of the redactions removed.

“It is clear to me by talking to the technician that certainly there is a need for training support” at the Wuhan lab, Dr. Chen wrote in the report, parts of which were attached to a letter sent by Mr. Johnson to Department of Health and Human Services (HHS) Secretary Xavier Becerra on Sept. 21.

The letter, which was obtained by The Epoch Times, includes fragments of Dr. Chen's report and suggests that HHS and the U.S. National Institutes of Health (NIH) were aware of safety issues at the Wuhan facility as early as October 2017.

The P4 laboratory on the campus of the Wuhan Institute of Virology in Wuhan, Hubei Province, China, on May 13, 2020. (Hector Retamal/AFP via Getty Images)

Earlier reporting based on two State Department cables and correspondence records obtained by Judicial Watch indicate that NIH was made aware of safety problems at the Wuhan lab in 2018, the year after Dr. Chen's report.

“I think the institute would welcome any help and technical support by NIAID,” Dr. Chen wrote in her 2017 report.

Mr. Johnson wrote in his letter to Mr. Becerra that Dr. Chen's 2017 report partially served as the basis for a Jan. 19, 2018, State Department cable that raised safety concerns about the Wuhan virus lab.

Evidence suggests that SARS-CoV-2, the virus that causes COVID-19, leaked from the Wuhan facility before spreading across the world. According to the so-called lab leak theory, the deadly pathogen that caused the pandemic escaped the Chinese facility, which was conducting risky gain-of-function research on bat coronaviruses that was partially funded by U.S. taxpayer dollars.

Demands

Mr. Johnson demanded that HHS provide a version of Dr. Chen's 2017 report that contains fewer redactions in order to scrutinize its contents more closely and determine how closely it aligned with the cable.

“In the public FOIA document, HHS redacted Dr. Chen’s entire report claiming that it contains privacy and deliberative information,” Mr. Johnson wrote.

“It seems apparent that the only reason that HHS redacted this information was to hide the report’s contents from the American people. Perhaps HHS did not want the public to fully understand the fact that NIH and NIAID officials were aware of safety concerns at the WIV dating as far back as 2017,” he added.

Mr. Johnson also accused NIH and HHS of obstructing his probe.

"HHS and NIH continue to obstruct my oversight efforts," he wrote. "It is unacceptable that HHS and NIH had Dr. Chen's report in its possession and only provided a slightly less redacted version for my staff to review in camera."

He demanded that HHS provide unredacted copies of Dr. Chen's report and all documents and communications relating to the report and to the Wuhan lab.

Mr. Johnson also asked for Dr. Chen to sit before a congressional panel and testify.

He set an Oct. 5 deadline for HHS to comply with his request.

HHS officials didn't immediately respond to a request by The Epoch Times for comment.

Chinese virologist Shi Zhengli is seen inside the P4 laboratory in Wuhan, China, on Feb. 23, 2017. (Johannes Eisele/AFP via Getty Images)

'Preponderance of Evidence' for Lab Leak

In August 2021, a report by Republican lawmakers noted a "preponderance of evidence" that the virus that caused the COVID-19 pandemic leaked from the Wuhan lab.

Chinese officials have denied the lab leak claim, insisting that the virus made a natural jump from animals to humans.

Rep. Michael McCaul (R-Texas) said in testimony before the Coronavirus Select Subcommittee Republicans that evidence points to a lab leak as the likely origin of the virus, saying that "it's time to completely dismiss the wet market as the source of the outbreak" and "the preponderance of the evidence that it came from the lab is very convincing."

U.S. intelligence agencies later said in a report that a natural origin and a lab leak are both plausible hypotheses but that a lack of evidence makes a definitive conclusion either way impossible.

It's a sentiment echoed by Mr. McCaul in his testimony.

"Unfortunately, we may never know for certain because the Chinese Communist Party went to great lengths to cover up this outbreak," he said. "They detained the doctors in order to silence them. They disappeared journalists. They destroyed lab samples. They hid the fact there was clear evidence of human-to-human transmission. And they have refused to allow a real investigation into the origins."

Wuhan Lab Funding Controversy

The U.S. Agency for International Development awarded a total of $1.1 million to the WIV between October 2009 and May 2019, the agency wrote in a May 2021 letter (pdf) to Rep. Guy Reschenthaler (R-Pa.).

Mr. Reschenthaler alleged that the funding was used for a study that used gain-of-function research to create "a hybrid, man-made virus by inserting a spiked protein from a wild coronavirus into a mouse-adapted SARS-CoV backbone, which could infect human airways."

The agency said the funds were channeled through EcoHealth Alliance and were meant for the purpose of advancing research on critical viruses that could pose a threat to humans. It also denied claims that the money was used for gain-of-function research, which seeks to boost viral lethality for the purpose of studying it.

In June 2022, the House Appropriations Committee approved a ban on sending any further funding to the Wuhan Institute of Virology.

More recently, the NIH quietly removed the WIV from a list of foreign facilities that are eligible to receive U.S. taxpayer funds to conduct animal experiments.

Tyler Durden Thu, 09/28/2023 - 19:40

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International

Fauci And The CIA: A New Explanation Emerges

Fauci And The CIA: A New Explanation Emerges

Authored by Jeffrey A. Tucker via Brownstone Institute,

Jeremy Farrar’s book from August 2021…

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Fauci And The CIA: A New Explanation Emerges

Authored by Jeffrey A. Tucker via Brownstone Institute,

Jeremy Farrar’s book from August 2021 is relatively more candid than most accounts of the initial decision to lock down in the US and UK. “It’s hard to come off nocturnal calls about the possibility of a lab leak and go back to bed,” he wrote of the clandestine phone calls he was getting from January 27-31, 2020. They had already alerted the FBI and MI5. 

“I’d never had trouble sleeping before, something that comes from spending a career working as a doctor in critical care and medicine. But the situation with this new virus and the dark question marks over its origins felt emotionally overwhelming. None of us knew what was going to happen but things had already escalated into an international emergency. On top of that, just a few of us – Eddie [Holmes], Kristian [Anderson], Tony [Fauci] and I – were now privy to sensitive information that, if proved to be true, might set off a whole series of events that would be far bigger than any of us. It felt as if a storm was gathering, of forces beyond anything I had experienced and over which none of us had any control.”

At that point in the trajectory of events, intelligence services on both sides of the Atlantic had been put on notice. Anthony Fauci also received confirmation that money from the National Institutes of Health had been channeled to the offending lab in Wuhan, which meant that his career was on the line. Working at a furious pace, the famed “Proximal Origin” paper was produced in record time. It concluded that there was no lab leak. 

In a remarkable series of revelations this week, we’ve learned that the CIA was involved in trying to make payments to those authors (thank you whistleblower), plus it appears that Fauci made visits to the CIA’s headquarters, most likely around the same time. 

Suddenly we get some possible clarity in what has otherwise been a very blurry picture. The anomaly that has heretofore cried out for explanation is how it is that Fauci changed his mind so dramatically and precisely on the merit of lockdowns for the virus. One day he was counseling calm because this was flu-like, and the next day he was drumming up awareness of the coming lockdown. That day was February 27, 2020, the same day that the New York Times joined with alarmist propaganda from its lead virus reporter Donald G. McNeil

On February 26, Fauci was writing: “Do not let the fear of the unknown… distort your evaluation of the risk of the pandemic to you relative to the risks that you face every day… do not yield to unreasonable fear.”

The next day, February 27, Fauci wrote actress Morgan Fairchild – likely the most high-profile influencer he knew from the firmament – that “be prepared to mitigate an outbreak in this country by measures that include social distancing, teleworking, temporary closure of schools, etc.”

To be sure, twenty-plus days had passed between the time Fauci alerted intelligence and when he decided to become the voice for lockdowns. We don’t know the exact date of the meetings with the CIA. But generally until now, most of February 2020 has been a blur in terms of the timeline. Something was going on but we hadn’t known just what. 

Let’s distinguish between a proximate and distal cause of the lockdowns.

The proximate cause is the fear of a lab leak and an aping of the Wuhan strategy of keeping everyone in their homes to stop the spread. They might have believed this would work, based on the legend of how SARS-1 was controlled. The CIA had dealings with Wuhan and so did Fauci. They both had an interest in denying the lab leak and stopping the spread. The WHO gave them cover. 

The distal reasons are more complicated. What stands out here is the possibility of a quid pro quo. The CIA pays scientists to say there was no lab leak and otherwise instructs its kept media sources (New York Times) to call the lab leak a conspiracy theory of the far right. Every measure would be deployed to keep Fauci off the hot seat for his funding of the Wuhan lab. But this cooperation would need to come at a price. Fauci would need to participate in a real-life version of the germ games (Event 201 and Crimson Contagion). 

It would be the biggest role of Fauci’s long career. He would need to throw out his principles and medical knowledge of, for example, natural immunity and standard epidemiology concerning the spread of viruses and mitigation strategies. The old pandemic playbook would need to be shredded in favor of lockdown theory as invented in 2005 and then tried in Wuhan. The WHO could be relied upon to say that this strategy worked. 

Fauci would need to be on TV daily to somehow persuade Americans to give up their precious rights and liberties. This would need to go on for a long time, maybe all the way to the election, however implausible this sounds. He would need to push the vaccine for which he had already made a deal with Moderna in late January. 

Above all else, he would need to convince Trump to go along. That was the hardest part. They considered Trump’s weaknesses. He was a germaphobe so that’s good. He hated Chinese imports so it was merely a matter of describing the virus this way. But he also has a well-known weakness for deferring to highly competent and articulate professional women. That’s where the highly reliable Deborah Birx comes in: Fauci would be her wingman to convince Trump to green-light the lockdowns. 

What does the CIA get out of this? The vast intelligence community would have to be put in charge of the pandemic response as the rule maker, the lead agency. Its outposts such as CISA would handle labor-related issues and use its contacts in social media to curate the public mind. This would allow the intelligence community finally to crack down on information flows that had begun 20 years earlier that they had heretofore failed to manage. 

The CIA would hobble and hamstring the US president, whom they hated. And importantly, there was his China problem. He had wrecked relations through his tariff wars. So far as they were concerned, this was treason because he did it all on his own. This man was completely out of control. He needed to be put in his place. To convince the president to destroy the US economy with his own hand would be the ultimate coup de grace for the CIA. 

A lockdown would restart trade with China. It did in fact achieve that. 

How would Fauci and the CIA convince Trump to lock down and restart trade with China? By exploiting these weaknesses and others too: his vulnerability to flattery, his desire for presidential aggrandizement, and his longing for Xi-like powers over all to turn off and then turn on a whole country. Then they would push Trump to buy the much-needed personal protective equipment from China. 

They finally got their way: somewhere between March 10 or possibly as late as March 14, Trump gave the go ahead. The press conference of March 16, especially those magical 70 seconds in which Fauci read the words mandating lockdowns because Birx turned out to be too squeamish, was the great turning point. A few days later, Trump was on the phone with Xi asking for equipment. 

In addition, such a lockdown would greatly please the digital tech industry, which would experience a huge boost in demand, plus large corporations like Amazon and WalMart, which would stay open as their competitors were closed. Finally, it would be a massive subsidy to pharma and especially the mRNA platform technology itself, which would enjoy the credit for ending the pandemic. 

If this whole scenario is true, it means that all along Fauci was merely playing a role, a front man for much deeper interests and priorities in the CIA-led intelligence community. This broad outline makes sense of why Fauci changed his mind on lockdowns, including the timing of the change. There are still many more details to know, but these new fragments of new information take our understanding in a new and more coherent direction. 

Jeffrey A. Tucker is Founder and President of the Brownstone Institute. He is also Senior Economics Columnist for Epoch Times, author of 10 books, including Liberty or Lockdown, and thousands of articles in the scholarly and popular press. He speaks widely on topics of economics, technology, social philosophy, and culture.

Tyler Durden Thu, 09/28/2023 - 17:40

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Government

Watch: Biden Tells People To Stop Questioning COVID Shots

Watch: Biden Tells People To Stop Questioning COVID Shots

Authored by Steve Watson via Summit News,

In remarks made Wednesday, Joe Biden…

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Watch: Biden Tells People To Stop Questioning COVID Shots

Authored by Steve Watson via Summit News,

In remarks made Wednesday, Joe Biden argued that people, including potential “leaders” should stop saying “inflammatory things” about COVID vaccinations and fall into line with what his administration is telling them to do.

“What leaders say matter, in terms of people’s confidence in things they’re not sure about,” biden began.

He continued, “And one of those areas — you saw what happened with regard to the crisis — health crisis that we had that cost us — we lost well over a million people. And as time began to move on, you had more and more voices saying, “No, no, no. You don’t need to get that shot. You don’t need to be — get — you don’t need to.”

“We have a new strain of COVID now, and we have answers for it,” Biden contended, further stating “I just would urge those in public life and both political parties or no political party to be cautious about the ac- — the sometimes inflammatory things you say about this, because people’s lives are at stake.”

Watch:

That will be the COVID shots that don’t prevent anyone from getting COVID or stop transmission of the virus then will it? The ones that cause more serious side effects in children than they do save lives?

The comments come in the wake of revelations that Anthony Fauci was secretly escorted into CIA and State Department meetings to steer the direction of the COVID origins investigation away from the lab leak evidence.

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Tyler Durden Thu, 09/28/2023 - 17:00

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